China Financial News

Sonam Udasi, Senior Fund Manager, Tata Mutual Fund believes large caps may offer better value in the near term. However, it is the potential rather than the size that determines the company’s relative attractiveness. In an interview with Mint, he says as India moves from a $2,300 per capita income economy towards $4,000 over the next five years, many new segments, and companies will mushroom and grow robustly.

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China Daily, a prominent English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has allocated a substantial 2.813 million Yuan ($390,000) to build its own metaverse and a non-fungible tokens (NFT) platform.

PTI, he sought to downplay the concerns emanating from Washington about China's intentions to challenge the United States' superpower status. The "Thucydides Trap" refers to a concept where an emerging power poses a potential threat to replace the existing dominant power.

The Albanese government will adopt a new definition for “critical minerals” influenced by the needs of Australia’s defence and trade partners, in a move that could drive domestically abundant commodities such as coking coal, bauxite and iron ore onto the list.

Hong Kong's leader says the city will seek to strengthen its economic and trade ties with Thailand after a meeting with the country’s prime minister

Country Garden said Tuesday that it did not expect to meet all of its offshore payment obligations in time as it edges towards a potential default. Country Garden — one of China's biggest property developers — had racked up debts estimated at 1.43 trillion yuan ($196 billion) by the end of 2022. Its cash flow problems have ignited fears that it could collapse with consequences for China's economy, which is already suffering from record-high youth unemployment, flagging consumption and a broader crisis in the real estate sector. Country Garden, which was already formally at risk of default in September, last month repaid $22.5 million in interest on loans at the last minute during a 30-day grace period. It then negotiated the rescheduling of several repayments with creditors, with several more deadlines looming over the coming weeks. The firm said Tuesday it had missed a payment of HK$470 million ($60 million).

“The Microcap and Small cap look risky and overheated at this point of time as the stocks have reflected a sharp rise in their prices during the past few months,” says Girirajan Murugan, CEO, FundsIndia. In an interview with ETMarkets, Murugan said: “The small cap and microcap stocks are more sensitive to macroeconomic changes that lead to more volatility in the short term” Edited excerpts: Nifty hit 20200 levels and then we saw some bit of healthy profit-taking amid muted global cues. What is your take on markets for the medium to long term? Our medium to long-term view remains bullish on the Indian stock market. We believe that the current correction in the Nifty of around 4% from the all-time high has offered a good opportunity to accumulate fundamentally strong stocks for the medium to long term at reasonable valuations.

Nifty 50 closed at 19,512.35, down 141 points, or 0.72% and the Sensex ended the day with a loss of 483 points, or 0.73%, at 65,512.39. “In the near term, we expect markets to remain volatile amid geopolitical stress and inflationary pressure ahead of CPI data to be released by the US, Europe, and China later during the week," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Also Read: Global markets today: Oil prices jump, investors shun stocks Here are key global cues from Sensex today: Asian markets traded higher on Tuesday following overnight gains on Wall Street.

San Francisco on Monday, the consulate said. The incident posed «serious threat» to life and safety of staff, and damaged facilities and property, the consulate said in a statement. «We condemn this violent attack and reserves the right to pursue responsibility for the incident,» it said, adding it has lodged solemn representations to the U.S.

Chinese officials say uptake for the digital yuan is rising among overseas visitors – while more citizens are receiving their salaries in CBDC wallets.

The shock attack by Hamas and Israel’s response risk a wider destabilisation of the region – and the global oil market is watching.

U.S. Senate Majority Leader Schumer says he is grateful for a stronger statement from China condemning the deadly Hamas attack on Israel issued during his visit to Beijing that included a lengthy meeting with President Xi Jinping

MG Motor India plans to overhaul its dealership network by closing underperforming ones and opening new dealers in newer locations ahead of a potential alliance between its Chinese parent and a private company owned by JSW Group chairman Sajjan Jindal, people aware of the development told ET. The maker of Hector and Astor SUVs also assured its dealers on the sustenance of its Indian operations and brand MG post the deal, the automaker informed the dealer partners last week. The company also touched upon plans to launch new models and variants and expand the overall capacity in its communication to the dealers.

The astrology-themed NFT project Lucky Star Currency (LSC) has performed an exit scam for over $1 million, according to an October 9 report from blockchain security firm Certik.

China Daily, an English-language newspaper owned by the Publicity Department of the Chinese Communist Party, wants to create its very own metaverse and nonfungible tokens (NFTs) platform.

NEW DELHI : The popularity of e-commerce and social media in India has played a major role in stimulating demand for beauty products over the past decade, Alexis Perakis-Valat, president of the consumer products division at L’Oréal, said in an interview. This is helping the world’s largest beauty company attract more shoppers. Valat, who was in India last week, oversees a portfolio of brands for the French beauty company, including Garnier, L’Oréal Paris, Maybelline, Nyx, Essie, and Mixa.

Zoho Corporation expects India to become the company's largest market in the next decade, driven by the country's rapid growth and demographic dividend. «India is the fastest growing market. Even when I reported the September slowdown, our fastest growth is in India. That's very helpful. But globally, there is a substantial slowdown particularly you are seeing in the US...,» said Sridhar Vembu, founder and chief executive of the Chennai-based firm. India is currently the third-largest market for Zoho after the US and European Union.

Indian smartphone manufacturers including Lava and Bhagwati (Micromax) are struggling to meet their incremental targets under the production-linked incentive (PLI) scheme for the third year in a row in FY24, underlining challenges in the government's efforts to create local manufacturing champions. Dixon Technologies is set to be among a few exceptions as it has some big orders and signed some new ones, industry executives said. While global manufacturing companies such as Foxconn, Wistron and Samsung have helped the PLI scheme for mobile phones become a grand success, a top executive at homegrown smartphone brand Lava said the manufacturing industry needs more time to establish local champions.

By Joyce Lee

Hopes that oil supply might ease a bit next year, and inflationary pressures with it, are fading after Saturday’s shock attack on Israel. On Monday, Brent crude futures rose about 4% to $88 a barrel as traders sized up the potential impact on global supply of a new war in the Middle East. Neither Israel or Palestine are major oil producers, so there isn’t an immediate effect.